A Pair of Earnings Plays

By

Timothy Collins

| Jan 24, 2013 | 2:36 PM EST

Apple (AAPL) is redefining the way Wall Street hates a stock. The fall from grace has been swift and incredibly painful. It seemed like not too long ago, the discussion focused around $700 per share and the march toward a $1 trillion market cap, or as Bob Byrne would say, a "Trilly."

Now AAPL is actually closer to zero than to a trillion and the defense of the stock by a dozen analysts today is being ignored. It is as if they are trying to defend a castle from two counties away. Not only is the action brutal today, I would call it irrational. The weekly and monthly charts are tilting toward a strong buy point based on history, but we may not get there until around $420-$425. Psychologically, $450 could be a buy point for traders looking to play the bounce, so I am watching that level this afternoon....242 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.